Netflix continues to chug along, growing its revenue and profit margins even as its competitors struggle to keep their streaming services profitable.

Netflix reported total revenues of $11.1 billion, operating income of $3.8 billion and a margin of 34.1 percent, all up double digits from a year ago, and all topping Wall Street estimates.

Q2 is the second quarter in which Netflix is not releasing its subscriber figures, choosing instead to put its focus on revenue and income, as it experiments with different revenue models like advertising, and with the price of subscriptions in different markets remaining somewhat variable.

It is also the first full quarter in which it has launched new price increases, including in mature markets like the U.S. Those price hikes, combined with consistent low churn, likely account for the strong margins.

In its earnings letter, Netflix noted that its U.S. and Canada revenue grew by 15 percent in Q2 compared to 9 percent in Q1 thanks to the price increases.

On the advertising front, Netflix said that it is nearly done with its 2025 upfront negotiations, and that it on track to “roughly double” its advertising revenue this year, though the specifics are still under wraps.

The company is forecasting revenue of $11.5 billion, operating income of $3.6 billion, and operating margins of 31.5 percent in Q3, and updated its 2025 guidance for revenue to $44.8 billion-$45.2 billion, up from $43.5-$44.5 billion, and margins of 29.5 percent, up from 29 percent.

More to come.